Nasdaq 100, USD/JPY and Brent crude range trade  

Macro update

US Treasury yields hit multi-year highs: The benchmark 10-year US Treasury yield surged above 5.27%, its highest level since 2007, capping the steepest monthly bond sell-off in two years as investors prepared for borrowing costs to remain elevated for longer.

Oil prices extend gains: Brent crude climbed above $107 a barrel for a second consecutive session as concerns over Middle East supply disruptions linked to the US-Iran war outweighed signs of recovering Gulf exports.

Dollar heads for strongest month since June: The US currency held close to a two-month high and was on course for a 1.8% monthly gain, its best performance since June, supported by rising oil prices and higher Treasury yields.

Australia lifts rates to 15-year high: The Reserve Bank of Australia raised its cash rate to 4.60% in a unanimous decision and indicated it remained prepared to tighten policy further if inflation stayed elevated.

Anthropic eyes $2 trillion valuation in potential IPO: The AI company’s prospectus outlined plans for a listing that could value it at more than $2 trillion, despite reporting a $42bn net loss for 2025 and plans to spend $518bn on computing and infrastructure.

Gold remains near seven-week low: Bullion edged only slightly higher, staying close to its weakest level since early August, as expectations of higher-for-longer Federal Reserve rates continued to weigh on demand for the non-yielding asset.

Nasdaq 100 range trades below record high

The Nasdaq 100 continues to sideways trade below last week's 30,770 record high but has so far managed to stay above the minor psychological 30,000 mark.

In case of a rise above the 25 September high at 30,667 being seen, the June and September peaks at 30,762-to-30,770 are expected to be revisited. If bettered, the 31,000 region may beckon.

Were Monday's low at 30,081 to give way, a slide towards the 10 July high at 29,857 and the 15 July and 28 August highs at 29,772-to-29,753 may ensue instead.

Short-term outlook: neutral while above the 28 September 30,081 low and below the 22 September high at 30,770

Medium-term outlook: bullish while above the 16 September low at 28,753

Nasdaq 100 daily candelstick chart

USD/JPY range trades below resistance

USD/JPY's recovery from its ¥152.88 early September low faltered art last week's ¥159.04 high with the cross sideways trading in the ¥157 region since then.

Were a slip through this week's low at ¥156.51 to be seen, the August low at ¥155.23 may be revisited.

Resistance may be spotted between the July-to-September resistance line and 200-day simple moving average (SMA) at ¥158.43-to-¥158.65. Were this resistance zone and last week's high at ¥159.04 to be exceeded, the 18 August high at ¥159.78 and the early September peak at ¥160.39 would likely be back in sight.

Short-term outlook: bullish while above the 17 September low at ¥155.34

Medium-term outlook: neutral with a bullish undertone while above the 8 September low at ¥152.88

USD/JPY daily candlestick chart

Brent crude remains bid

Brent Crude's recent descent seems to have paused at Monday's $100.24 per barrel low with it heading towards that day's high at $105.48. If overcome, last week's high at $107.22 should be back in sight and perhaps the $110 region too.

Were Monday's low at $100.24 to give way, though, last week's low at $98.05 and the July-to-September uptrend line at $97.32 may be revisited instead. Further down lies key support at $96.19-to-$94.36 which consists of the July-to-August highs and early September low.

Short-term outlook: neutral while below the 24 September high at $107.22 and above the 22 September low at $98.05

Medium-term outlook: neutral with a bullish bias while above the 4 September $95.16 low

Brent crude daily candlestick chart